It's happening: Puerto Rico just defaulted for the first time - page 2.

Miracal

sr. member

Activity: 350

Merit: 250

Quote from: Amph on August 04, 2015, 01:20:22 AM

Quote from: Andy4.4 on August 04, 2015, 12:02:23 AM

Just wait and watch, there will be more members coming to defaulters list.

which will be translated in more opportunity to embrace and increase bitcoin price, hopefully at least oen of those will turn the light off on fiat if not we can get at least a good hype that might make bitcoin stronger

Despite how unrealistic it seems for a country to really adopt bitcoin, if it happens then it would be really mind blowing. All the people who have owned a bitcoin will be instantly rich, richer than what they were for sure. I am sometimes surprised how the world is so slow to adopt crypto, as a kid I always imagined that digital money could conquer the world.

Amph

legendary

Activity: 3248

Merit: 1070

Quote from: Andy4.4 on August 04, 2015, 12:02:23 AM

Just wait and watch, there will be more members coming to defaulters list.

which will be translated in more opportunity to embrace and increase bitcoin price, hopefully at least oen of those will turn the light off on fiat if not we can get at least a good hype that might make bitcoin stronger

Andy4.4

newbie

Activity: 42

Merit: 0

Just wait and watch, there will be more members coming to defaulters list.

OROBTC

legendary

Activity: 2940

Merit: 1865

...

neurotypical (and members likely to comment below)

IMO, Puerto Rico is just the first of many other high-profile cases to DEFAULT. We will see it more and more. Eventually it wil even make the news.

It's not just Detroit, California cities, Cyprus and Greece anymore.

Lots of defaults coming, one way or another:

-- Puerto Rico style defaults

-- "Debt Jubilees" may come back, these have been around for millennia

-- Continued borrowing until the very end: more default

-- Hyperinflation

It's almost always one or the more above in resolving debts too high to pay in real terms.

neurotypical

hero member

Activity: 672

Merit: 503

http://money.cnn.com/2015/08/03/investing/puerto-rico-default/

Damn, I can't believe this is happening so close, it's unbeliable but it was unavoidable. 58 million of unplayable fee. I really hope these guys don't get all of their money stolen. Only if we were in 2025 they could have had a chance with Bitcoin we are still on the very early days.

Topic: It's happening: Puerto Rico just defaulted for the first time - page 2. (Read 1843 times)